Republicans are often known as the party of fiscal responsibility. This week, Swamp Notes unravels the US House of Representatives’ “big, beautiful” bill and its uncertain path forward in the Senate. Edward Luce, US national editor and columnist, and James Politi, Washington bureau chief, explain what made congressional Republicans go all in on big spending, tax cuts and more debt.

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Mentioned in this podcast:

Read Edward Luce’s column on the new ‘moron premium’ for Treasuries

US House passes Donald Trump’s showpiece tax bill

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Swamp Notes is produced by Lauren Fedor, Katya Kumkova and Henry Larson. Topher Forhecz is the acting co-head of audio. Special thanks to Pierre Nicholson.

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The White House is fighting court rulings that US President Donald Trump’s ‘liberation day’ tariff scheme is illegal, and a former Goldman Sachs banker was sentenced to two years in prison for his role in the 1MDB scandal. Plus, how Wall Street offloaded billions of dollars of debt from Elon Musk’s Twitter deal.

Mentioned in this podcast:

Court tariffs bombshell should inspire trading partners to defy Trump

Trade Secrets Newsletter

Former Goldman Sachs banker sentenced to two years in prison for 1MDB role

How Wall Street offloaded $13bn of debt tied to Elon Musk’s Twitter deal

Today’s FT News Briefing was produced by Sonja Hutson, Fiona Symon, Henry Larson and Marc Filippino. Additional help from Michael Lello, and Gavin Kallmann. Blake Maples mixes our show. Topher Forhecz is the FT’s acting co-head of audio. The show’s theme song is by Metaphor Music.

Read a transcript of this episode on FT.com

Hosted on Acast. See acast.com/privacy for more information.

A US court invalidated President Donald Trump’s “liberation day” tariff scheme yesterday. Nvidia reported a nearly 70 per cent surge in quarterly revenues, and the US has said it will not renew Chevron’s oil licence in Venezuela. Plus, Texas and Nevada are seeking to challenge the dominance of Delaware with company-friendly law.

Mentioned in this podcast:

US trade court invalidates Donald Trump’s reciprocal tariffs

Nvidia quarterly revenue surges nearly 70% on AI boom

US government will not renew Chevron’s Venezuela oil licence

Texas vs Nevada — the battle to woo companies is heating up

Today’s FT News Briefing was produced by Sonja Hutson, Henry Larson and Marc Filippino. Additional help from Blake Maples and Michael Lello. Topher Forhecz is the FT’s acting co-head of audio. The show’s theme song is by Metaphor Music.

Hosted on Acast. See acast.com/privacy for more information.